Homebuilder Confidence Falls for Record Tenth Straight Month

[Epoch-Times-Bot]

Homebuilder Confidence Falls for Record Tenth Straight Month

Home construction companies continue to be stuck in a deep rut, as confidence in the market falls once again this month.
Rising mortgage rates and building material shortages have made new housing less affordable for most of the year, pushing away first-time buyers.
The National Association of Home Builders (NAHB) reported on Oct. 19 that its monthly Wells Fargo Housing Market Index fell eight points, to 38 this month for the tenth month in a row. This is the longest stretch of declining confidence on record.
"This situation is unhealthy and unsustainable," said NAHB Chairman Jerry Konter in a press statement.
"Policymakers must address this worsening housing affordability crisis."...

Source: Homebuilder Confidence Falls for Record Tenth Straight Month

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